This also comes as Chua stepped down from the board of EEI after joining in 2023.
He told InsiderPH he wanted to better focus on other businesses, including manufacturing.
“I’m focusing on new ventures, specifically in the manufacturing sector,” Chua, an engineer by profession, said in a text message on Wednesday.
“It’s hard to do both industries as it all takes up time,” he added.
Pivot to manufacturing
Chua also owns listed firm Asiabest Group International (ABG), whose shares are valued at about P6.3 billion. Its businesses include ABG Modular, which uses prefabricated construction technology for building homes and infrastructure projects.
Through Industry Holdings and Development Corp., Chua owns about 14.3 percent of EEI, one of the builders of the Metro Manila subway project and a top contractor that was long controlled by the Yuchengco family.
Chua open to full EEI exit
Chua said he’s now considering selling the stock, which is now priced P2 per share versus his entry price of about P7.2 each. At the current value, his stake is worth about P300 million.
“There’s no talks but if there’s a buyer I’m open,” he said, while acknowledging the “stock price is not that good”.
He remains the company’s third-largest shareholder behind the 20 percent of HDA Holdings, led by EEI CEO Henry Antonio, and the 15 percent of Yuchengco-owned House of Investments.
The EEI stake was also among the assets Chua was planning to fold into ABG.
Ownership shuffle
Chua entered EEI around the time former House Speaker Martin Romualdez-linked RYM Business Management Corp. acquired a stake in the company. That stake was then flipped to HDA Holdings in early 2025.
EEI, which traces its roots to mining nearly a century ago, has grown into one of the country’s biggest builders. It’s now expanding beyond construction into real estate development, with acquisitions such as the 49-hectare mixed-use development in Kawit, Cavite.
In 2025, EEI staged a turnaround as it swung to a P1.95 billion profit from a P4.42 billion loss a year earlier, helped by stronger revenues and a sharp jump in non-operating income.
The company’s balance sheet also grew significantly, with total assets climbing to P52.6 billion while stockholders’ equity rose to P18.1 billion.
Clouds ahead
But the ongoing Middle East conflict continues to cloud the outlook.
“Management expects 2026 to be a year of operational stabilization and disciplined execution. While near-term performance will remain influenced by cost pressures and funding conditions, gradual improvement is expected as cost management initiatives take effect and diversification initiatives begin to contribute more meaningfully,” EEI said in its latest annual report.
“Over the medium term, the group aims to achieve a more balanced earnings profile, improved cash flow generation, and a stronger financial position,” it added.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
